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Bolton Wanderers





Grombleton

Surrounded by <div>s
Dec 31, 2011
7,356
7.5m? We sold Ulloa for more than that.
 






Jan 10, 2014
540
Presumably the new concortium take over tbeir debts or do they go into administration.


The only debts (apart from making losses every month) are to HMRC and they have another 14 days to get it sorted or it's Admin for them.
 






Swillis

Banned
Dec 10, 2015
1,568

:rave:

Bolton sacked Coyle after a poor start to the season following their bid to gain promotion back to the top-flight.
Freedman said: 'I am delighted to join Bolton. The club is geared up to getting back into the Premier League.
'There is an impressive setup and structure in place, and a first team squad of undoubted quality. I am excited about the challenge ahead of us.'

http://www.dailymail.co.uk/sport/fo...gie-Freedman-joins-Bolton-Crystal-Palace.html
 


Jan 10, 2014
540
Isnt that debt quite large so perhaps the new owners will do a deal with HMRC.

It's more than the £7.5 million that Holdsworth and his group have 'supposedly' bought Bolton for.

The Judge at the hearing said that all debt has to be cleared with the sale of the club or it will be wound up.
 




LlcoolJ

Mama said knock you out.
Oct 14, 2009
12,982
Sheffield
Not very clear is it. One would guess that the club has actually been "sold" for £1 and the £7.5m is cash they are putting in to pay debts / keep it running, but who knows?
 


Icy Gull

Back on the rollercoaster
Jul 5, 2003
72,015
Shame for Bolton that Freedman isn't there any longer, he could possibly give them advice on how to wriggle their way out of all their debts, a la Crystal Palace
 


Thunder Bolt

Ordinary Supporter
It's more than the £7.5 million that Holdsworth and his group have 'supposedly' bought Bolton for.

The Judge at the hearing said that all debt has to be cleared with the sale of the club or it will be wound up.

According to this article HMRC are owed £2.2M
http://www.bbc.co.uk/sport/football/35630605

Althought their total debt is a lot more - The club are £172.9m in debt, and also under a transfer embargo for breaking Financial Fair Play regulations.
 




Jan 10, 2014
540
I must have misread but HMRC have said that £7.5 million doesn't cover what's owed to whoever.

Eddie Davies is writing most of the debt off and wants £15 million.
 


Sussex Nomad

Well-known member
Aug 26, 2010
18,185
EP
That was my understanding, that the vast majority of the debt is to the owner who already said he would write it off when the club was bought.
 


LlcoolJ

Mama said knock you out.
Oct 14, 2009
12,982
Sheffield
Really surprised that they didn't wait until the club went into administration before taking it over. Yes they would have been guaranteed to be relegated but financially the club would have been in a better position. Is this a massive gamble that they will stay up? It all sounds a bit dodgy anyway (which isn't surprising).
 






ditchy

a man with a sound track record as a source of qua
Jul 8, 2003
5,205
brighton
Really surprised that they didn't wait until the club went into administration before taking it over. Yes they would have been guaranteed to be relegated but financially the club would have been in a better position. Is this a massive gamble that they will stay up? It all sounds a bit dodgy anyway (which isn't surprising).

They either must think they have a good chance of staying up or feel confidant enough to take a 12 point hit next season and still get promoted
 








moggy

Well-known member
Oct 15, 2003
5,050
southwick
Dean used to live in the same village as me and eat in my Dad's pub.. That is all I have to add to this thread

Who is your avatar and is that the Ipswich badge?
Also, what was on the menu in the pub and does it do good lunchtime specials?
All valid questions I believe
 


8ace

Banned
Jul 21, 2003
23,811
Brighton
Not very clear is it. One would guess that the club has actually been "sold" for £1 and the £7.5m is cash they are putting in to pay debts / keep it running, but who knows?

I know the reason why companies are sold for £1 - what I want to know is if this £1 is ever actually exchanged ???
 



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